• March 29, 2024
 Funeral Director’s Fears Over Impact of Rising Funeral Costs

Funeral Director’s Fears Over Impact of Rising Funeral Costs

Following the HM Treasury’s (HMT) recent announcement on funeral plan regulation, a southern funeral director has warned of the implications of rising funerals costs on bereaved families.

The Somerset funeral director is concerned that grief-stricken families are being left destitute after paying thousands of pounds on funerals for their loved ones 

As of June 2019, the cost of an average funeral costs £4,200. Reports have now indicated that the cost of an average funeral has increased more than 50% over the last 15 years – impacting on low-income families the most.

SunLife have released their ‘Cost of Dying report’ which gives a complete view of funeral costs over time. The stats reveal that 62% of people made specific financial provision for their funeral before they died, whereby 50% used savings and investments (down from 52% in 2017), 30% had a prepaid funeral plan (up from 29% in 2017) 17% had a life insurance plan (up from 15% in 2017) and 16% had an over 50s plan (up from 15% in 2017). However, of those, only 59% made enough provision to cover the whole costs. Families had to find on average £2,559 on to make up the shortfall, with 39% ‘actively cutting back’ on certain aspects to keep the cost of the funeral down and 12% of families who had to pay for the funeral caused ‘notable financial problems’

Tracey Warren, a funeral director from Crewkerne says more legislation needs to be introduced to regulate new companies, so those using them are receiving the right, professional care.

Tracey Warren, Funeral Director said:

“My argument’s always been you’d never go to an unqualified doctor so at this time of need, the most sensitive time where you need quality, a real compassionate service, you need somebody that’s got those skills.

“But anybody can start up as a funeral director and I think that’s actually wrong.

“We need legislation across the board to actually standardise the quality of funerals that take place in the UK.”

A hospice in Taunton, Somerset has also set up its own service to help people who are unable to afford funerals due to the sheer frustration of the issue. They wanted to help local people in their town who were in need. Remarkably, they revealed only a third of people using their service were connected to someone cared for by them.

Ann Lee, Chief Executive of St Margaret’s Hospice said:

“What’s really interesting is that only a third of people using the service have ever had a connection with the hospice so competition is important, we want to work alongside other funeral directors but drive down the overall costs for our community when they’re facing a funeral.”

Jon Levett, Chief Executive of the National Association of Funeral Directors commented on the Government’s plans to introduce statutory regulation to the pre-paid funeral plan market. He said:

“We do not believe price regulation is the way forward but support the idea that on standards there should be a regulatory framework that gives the public greater choice, ensures best practice, promotes healthy competition and means that when people arrange a funeral they do so confident that they are getting the service they want and are fully aware along every step of the way what it will cost.”

On the face of it, it seems UK funeral industry opinions are largely in favour of HMT’s announcement on funeral plan regulation which sees Co-op, Golden Charter, the National Society of Allied and Independent Funeral Directors and leading funeral service provider, Dignity all responding favourably to the announcement.

As a Wills and probate expert, do you support HMT’s funeral plan regulation announcement?

Toni Ryder-McMullin

Toni is the Media Officer for Today’s Conveyancer, Today’s Wills & Probate and Today's Family Lawyer. I worked for a law firm for 16 years, during my time at the firm I worked as a company commercial legal secretary for 7 years but changed careers and moved into marketing for the remaining 9 years – where I covered all aspects of marketing. While in the marketing role, I achieved a CIM Professional Certificate in Marketing and CAM Diploma in Digital Marketing.